Rhode Island
The 6 biggest business news stories to watch in Rhode Island in 2025 – The Boston Globe
Here are the biggest business news stories to watch in Rhode Island in 2026.
1. Will Hasbro leave Rhode Island for Boston?
Hasbro Inc. has been teasing Rhode Island’s leaders in mulling a move to Boston, and officials are tossing out all sorts of ideas — tax credits, an annual “Rhode Island Hasbro Day,” special access to airport lounges, subsidies for on-site child care — to see what might keep the century-old toy company anchored in its home state.
State leaders pitched Hasbro earlier this winter on six potential locations in three cities where Hasbro could relocate. But in that same meeting, leaders from Rhode Island Commerce and Governor Dan McKee’s office also pitched a series of incentives for the maker of Monopoly, My Little Pony, and Nerf, according to a report and videos released to the Globe on Monday in response to a public records request.
Hasbro spokespeople maintain that they have “no updates” on any potential relocation, but CEO Chris Cocks told employees in late 2024 that they would hear from the company’s leadership team sometime in the first quarter of 2025 about whether they’d be heading for greener pastures beyond Rhode Island.
Antonio Afonso, McKee’s chief of staff and the state’s “point person” on Hasbro, declined to be interviewed.
2. The company buying up Newport restaurants
In Newport, there’s one man who seems to be everywhere: Nicholas S. Schorsch.
A wealthy entrepreneur and investor, Schorsch has been on roll with his Heritage Restaurant Group since relocating to Newport from New York City 12 years ago, and has amassed a growing portfolio.
In 2024 alone, the group acquired restaurants Caleb & Broad, Flo’s Clam Shack, The Reef, The Red Parrot, The Brick Alley Pub, and many more. In late December, the group also announced it would acquire the historic Vanderbilt hotel, a Georgian Revival mansion. It’s not yet clear what the Heritage group paid for the hotel, but the transaction is expected to close in early 2025.
The group also operates Newport Craft Brewing, La Forge Casino Restaurant, La Costa Lobster Rolls and Tacos, Cluck Truck, Cluck House, A Mano Pizza & Gelato, Wiener Wagon, and Wally’s Wieners. It also owns Newport Lobster Company, one of the largest seafood wholesalers in the area, and runs concessions at Easton’s Beach.
Many of the restaurants Schorsch has acquired were family-run operations where the owners were nearing retirement age. His purchase, some say, was a lifeline so they could step away from their businesses. But critics are concerned about the powerhouse the group is becoming, saying that much control over businesses on Aquidneck Island could raise prices and stifle competition.
3. The expansion of Brown University Health
Rhode Island’s largest health care system, Brown University Health, previously known as Lifespan Corp., acquired St. Anne’s Hospital in Fall River and Morton Hospital in Taunton from bankrupt Steward Health Care for $175 million in 2024. This year, the hospital owner plans to expand in Foxborough, Mass., by bolstering two outpatient clinics it purchased from Steward that could generate $43 million annually by fiscal year 2027. The clinics could be an opportunity, officials told investors in December, to expand cancer care and ambulatory surgery into Massachusetts. They also plan to broaden their specialty physician groups.
4. Continued fallout from the Washington Bridge closure
The Washington Bridge westbound on Interstate 195 abruptly closed more than a year ago, leaving drivers scrambling, and a long list of questions about went went wrong. The bridge — meant to last at least two more decades — needs to be demolished and rebuilt. Demolition is expected to take another year, and there is no timeline currently for when a new span will be completed. Chicago-based Walsh Construction Company will compete with a joint venture of American Bridge Company from Pennsylvania and New York-based MLJ Contracting Corp. to build the new bridge.
The state has sued 13 companies who were previously hired by the state to inspect the bridge, or do construction or design work. Several defendants have already pushed back on the suit, calling it a political “blame game.” A judge is expected to consider their motions to dismiss the lawsuit this month.
5. More shakeups at the state Housing Department
On New Year’s Eve, Tara Booker, the executive director of homelessness response for the R.I. Department of Housing, submitted her resignation. In a phone conversation with the Globe, Booker declined to comment as to why she would leave, and said she would remain at her post “through at least Jan. 31, and potentially longer.”
“I have a transition plan,” said Booker. “I don’t really want to comment on anything right now. I’m still working and want a productive transition.”
Booker also declined to comment on any winter shelter plans, which is a program she has overseen at the department since she was hired in March 2024. She is one of several of the department’s high-ranking leaders who have given their notice in the last year. Over the summer, former secretary Stefan I. Pryor resigned. Under his leadership, the department faced internal struggles and incomplete projects, and was circumventing procurement rules that may have cost taxpayers tens of thousands of dollars, the Globe reported. In November, after less than a year on the job, deputy housing secretary Deborah Flannery resigned.
Leaders in the General Assembly, including Senate President Dominick Ruggerio, said they have been “disappointed” in the department’s former leadership. In late November, agency consultant Deborah Goddard was appointed by Governor Dan McKee as the department’s fourth housing secretary since it was created in 2022. Her appointment will need the Senate’s approval.
Like her predecessors, Goddard will face a housing crisis that has been worsening for more than 30 years, developers who may want to build affordable housing but are facing red tape, and inflation.
6. A funding request from the ‘Superman’ building developer
It’s been two years since the state unveiled plans to redevelop the long-vacant “Superman” building in downtown Providence ― the tallest building in the state ― into apartments with room for commercial space. It was seen as a major win for the McKee administration, but not much has been done since. When asked if the idea of redeveloping 111 Westminster St. from office space into 285 residential units was dead, Senate President Dominick Ruggerio said, “They’re hanging on by their fingernails.”
“They want money,” Ruggerio told the Globe. “The problem is, they never told us how much.”
In August, Providence Mayor Brett Smiley told the Globe that the owner of the Industrial National Bank Building is asking for more than $10 million in additional support to convert the 26-story skyscraper into apartments, but wouldn’t say exactly how much.
Alexa Gagosz can be reached at alexa.gagosz@globe.com. Follow her @alexagagosz and on Instagram @AlexaGagosz.
KINGSTON, R.I. — Sebastian Thomas scored 23 points and secured the victory with a jump shot with one second remaining as Rhode Island knocked off George Mason 62-59 on Saturday.
Thomas hit a jumper, was fouled and added a free throw for the final margin.
Thomas shot 8 for 13 (3 for 7 from 3-point range) and 4 of 6 from the free-throw line for the Rams (12-2, 1-1 Atlantic 10 Conference). Javonte Brown added nine points while shooting 3 of 8 from the field and 3 for 4 from the line while he also had 13 rebounds and six blocks.
Darius Maddox led the Patriots (10-5, 1-1) in scoring, finishing with 14 points. George Mason also got 13 points from Woody Newton and 12 points from Brayden O’Connor.
Thomas scored 12 points in the first half and Rhode Island went into halftime trailing 34-25. Thomas scored 11 points in the second half for Rhode Island, including the game-winning shot.
Rhode Island
Rhode Island basketball’s Sebastian Thomas plays the hero against George Mason. Here’s how
Sebastian Thomas leads URI past George Mason, 62-59
Sebastian Thomas makes a shot in the final seconds to lift the Rams over the Patriots at the Ryan Center on Jan. 4, 2025
SOUTH KINGSTOWN — Saturday afternoon saw Sebastian Thomas add another chapter to what is becoming a remarkable personal story in this 2024-25 men’s college basketball season.
The former star at Bishop Hendricken and Providence native has been Mr. Clutch for the University of Rhode Island, and so it was again with George Mason in town for the home Atlantic 10 opener.
Thomas dribbled, faded and nailed an off-balance jumper along the right baseline with 0.9 seconds left to electrify the Ryan Center yet again. The Rams slipped past the Patriots, 62-59, in a game where they trailed for nearly 30 minutes.
URI opted not to use a timeout after inbounding with 11.7 seconds left, and Thomas took a backcourt handoff from Jamarques Lawrence up the right sideline. He waved off any potential screening action and attacked Brayden O’Connor 1-on-1, creating some daylight just before falling out of bounds.
Thomas floated a shot that caught nothing but net and drew a foul, a conventional three-point play that snapped a 59-59 tie.
“I knew we were going to get the last shot,” Thomas said. “I definitely wanted the ball. I think my teammates trust me with the ball.”
Thomas helped drop Providence and Temple in previous games with 3-point daggers inside the final minute. This bucket and the ensuing missed full-court heave by O’Conner allowed the Rams to bounce back from a wretched road loss at Duquesne on New Year’s Eve. URI faced a 12-point hole early after a third straight ineffective half of offense, but Thomas and a revamped lineup took command just in time to win a fifth straight league home opener.
“He’s the ultimate gamer right now,” URI coach Archie Miller said. “Confident. Bailed us out there.”
Thomas floated home a soft jumper in the lane with 2:58 left to make it a 56-54 game, the first lead for the Rams since the 12:31 mark of the opening half. URI generated a couple key defensive stops and received another bucket at a critical time from an unlikely source. Quentin Diboundje beat the shot clock with a jumper from the left elbow with 23.5 seconds to play, and the Rams opened a 59-56 advantage.
“That was all the coach, right?” Miller quipped. “I give him credit. He’s been on the back burner. It’s been a 50-50 tossup for a long time about how we incorporate him.”
O’Conner slashed off the left wing for a conventional three-point play to answer, but URI opted against calling a timeout after the made free throw. Miller already had Thomas on the ball and didn’t want George Mason to switch defenses in its huddle. It was a decision that ultimately helped the Rams match the 9-0 start in Kingston they enjoyed during a special 2017-18 campaign.
“Find a way to score so we can win the game,” Thomas said. “I’ve been in that position a few times this year, and it’s worked for me.”
URI (12-2, 1-1 Atlantic 10) grinded its way back even thanks to some defensive energy. David Green’s steal in the lane led to a Diboundje layup in transition down the left side with 4:30 to play. Javonte Brown’s blocked shot – one of his career-high six – sent Thomas down the left side for a layup that made it 54-54 with 3:53 left, and the Patriots (10-5, 1-1) were forced to use a timeout.
“The message at halftime wasn’t basketball as much as it was our togetherness – to shake us up,” Miller said. “We had to give each other more energy. We had to have a little bit of spirit.”
URI celebrates its comeback victory over George Mason at the Ryan Center
Sebastian Thomas makes a final-seconds shot and hits the free-throw to seal the Rams comeback over Atlantic 10 rival George Mason on Saturday afternoon
It was the first appearance for Diboundje since some late minutes in a Nov. 24 blowout of Charleston, as the Rams juggled their rotation after a 67-55 stinker against the Dukes. Miller went a step further in the second half, putting Tyonne Farrell on the bench for the final 15:46 and Cam Estevez alongside him for the last 10:13. Thomas, Lawrence, Diboundje, Green, Brown, Jaden House and David Fuchs were the primary seven who limited George Mason to 1-for-8 from 3-point range, cobbled together a 9-2 scoring advantage off nine turnovers and pressured the paint to the tune of a plus-11 margin in made free throws.
“We just had to get back to our basics – Rhode Island basketball,” Brown said. “Playing physical and moving side to side.”
URI was fortunate to trail by just nine at the break, suffering through a field goal drought of 10:23 and finding itself on the wrong end of a 15-0 run. Brown’s putback with 5:27 left earned a sarcastic cheer from a crowd of 5,803 fans, a gathering whose mood had turned 180 degrees by the stretch run. The Patriots finished just 9-for-18 from the stripe, including a 1-for-7 start to the second half.
“We really didn’t have any business winning that game for a long period in the first half,” Miller said. “It could have gotten away from us.”
bkoch@providencejournal.com
On X: @BillKoch25
Providence rings in the new year
Illuminate PVD: New Year’s Eve Celebration and Fireworks at 195 District Park and the Van Leesen Pedestrian bridge
Here are some of The Providence Journal’s most-read stories for the week of Dec. 29, supported by your subscriptions.
- We’re now several days into 2025, but forgive us for still taking some backward glances to make sense of all that happened in 2024, which was … a lot. Who better to put things in perspective with tongue firmly in cheek than columnist Mark Patinkin – from the evolving mess of the Washington Bridge, to the weddings of Olivia Culpo and Elizabeth Beisel, to the arrival of giant trolls in Charlestown and elephants in Newport, not to mention all the celebrity sightings during the filming of “Ella McCay” and the Watch Hill visits by Taylor Swift and her A-List posse.
- You might not expect newsworthy stories to spring from the real estate listings, but again, Rhode Island did not disappoint. We even had a historic island for sale.
- In sports, Jacob Rousseau reflects on his first year with The Journal, including that rookie mistake he made in the Fenway Park press box. His colleague Bill Koch looks ahead with predictions on what 2025 will bring for the college hoops scene in Rhode Island. For those stories and other college, high school and Patriots action, go to providencejournal.com/sports.
Here are the week’s top reads on providencejournal.com:
PROVIDENCE – New Year’s Day ushers in a raft of new state laws, and the final step in a years-long march to a $15-an-hour minimum wage for Rhode Island.
Some of these laws were debated and passed during the legislative session that ended in June, and others years earlier with phased-in effective dates, as was true with the minimum wage law passed in 2021 that raised the rate from $11.50 to $15 an hour over four years.
Other laws taking effect on Jan. 1 include one of the most popular to emerge from the 2024 session, benefiting those age 65 and older. Read the full story for a rundown of changes affecting Rhode Islanders in 2025.
Politics: Minimum wage hike, flavored vape ban and more: These new RI laws go into effect Jan. 1
PROVIDENCE – As feared, the hackers who breached Rhode Island’s expansive, Deloitte-run public benefits computer system RIBridges have released “at least some” files to a site on the dark web, the governor’s office disclosed on Monday.
“Right now, IT teams are working diligently to analyze the released files,” the governor’s office reported in a news release that went out at 11:52 a.m.
“We do not yet know the scope of the data that is included in those files, but as we’ve been saying for several weeks, we should assume that data contained in the RIBridges system has been compromised,” the statement said of the benefits system formerly known as UHIP.
The system contains the records of roughly 650,000 people who are receiving – or have previously received – Medicaid and SNAP (formerly known as Food Stamps), or who enrolled in private health insurance through HealthSourceRI.
Data breach: Stolen info from RIBridges hack being posted to the dark web. What to know.
In 2018, Timothy and Anne-Marie Corbett paid $2.2 million for a four-bedroom home near Sandy Point Beach in Portsmouth. The real estate listing featured photographs of a lush, green lawn with panoramic Sakonnet River views and gushingly described it as “one of the most spectacular waterfront sites available.”
Over the years, that lawn has grown smaller as the ocean has gotten closer. According to the Corbetts’ lawyer, Michael A. Kelly, approximately 30 feet of the couple’s property washed away in storms during the last two winters.
He blames the Coastal Resources Management Council, which prohibited the Corbetts from using heavy boulders to fortify the crumbling bluffs at the edge of their backyard – a defense mechanism that can help stave off erosion but often at the expense of neighboring properties and nearby beaches.
In December, Kelly filed a class action lawsuit that alleges it’s unconstitutional for the CRMC to stop homeowners from taking such steps to reduce erosion. He expects dozens of other waterfront property owners to join in.
Read on to learn more about the latest chapter in Rhode Island’s tug of war between public shoreline access and private property rights.
Political Scene: RI couple’s lawsuit challenges whether CRMC has say over homeowners’ seawalls. Why it matters.
It has the ring of an urban legend.
So it’s easy to understand why one What and Why RI reader wrote in to ask, “Was Al Pacino really arrested in Rhode Island?”
But it’s true.
Years before he made his movie debut, Pacino was briefly inmate #48634 at the Adult Correctional Institutions, which listed his occupation as “unemployed.” He’d been picked up by the Woonsocket Police Department early on the morning of Jan. 7, 1961, and charged with possession of a concealed weapon.
What happened next? Read the full story to find out.
What and Why RI: Was Al Pacino really arrested in Rhode Island? Here’s the story
As 2024 drew to a close, Journal food editor Gail Ciampa declared that it was one delicious year.
Restaurants and chefs in Rhode Island put on a remarkable show. Ten were honored with James Beard Foundation nominations, widely considered the Oscars of the dining world. Many were noted for excellence by Yelp, the crowd-sourcing platform and Open Table, the reservation company. National media including the New York Times and USA Today cited several for excellence.
Here are five experiences that topped Gail’s list. Will they be on your menu of dining destinations for 2025?
Dining: Five memorable meals across RI made 2024 a delicious year. The places to try in 2025
To read the full stories, go to providencejournal.com. Find out how to subscribe here.
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